Stating that open markets mean more opportunities, Modi said during the last six years the government has made many efforts to make the Indian economy more open and reform oriented.
The devastating floods in Assam and the continuing scarcity of water in its cities are woeful manifestations of India's mismanagement of water. India may not be a water-rich country, but it is not water-starved either.
First, there has been a significant softening in commodity prices - most notably oil.
The Congress also alleged that Facebook was acting as an ally of the ruling BJP and pushing its agenda.
This is the fastest the markets have taken to get out of bottom, compared to previous crises.
India will soon make available many more COVID-19 vaccines to other countries after two Made-In-India jabs have already been introduced to the world, Prime Minister Narendra Modi said on Thursday while emphasising the country's global responsibility in fighting the pandemic.
Business activity has fallen by a fourth of the pre-COVID levels due to lockdowns imposed by states to contain the spread of the second wave of COVID-19, Japanese brokerage Nomura said on Tuesday. However, it said the falling activity levels will have a muted economic impact and maintained its growth estimates for the year, saying the lockdowns present "downside risks". As of April 25, the Nomura India Business Resumption Index (NIBRI) registered its steepest weekly fall in over a year of 8.5 percentage points to 75.9, which is 24 percentage points below pre-pandemic normal, the brokerage said in a statement.
IndusInd Bank was the top gainer in the Sensex pack, rallying over 6 per cent, ahead of its earnings announcement. Axis Bank, Kotak Bank, ICICI Bank and Bajaj Finance too surged up to 5 per cent. On the other hand, NTPC, M&M, HDFC Bank, Bharti Airtel and ITC were the laggards.
RBI said aggregate demand during the year so far suggests that the shock to consumption is severe, and it will take quite some time to mend and regain the pre-COVID-19 momentum.
The COVID-19 pandemic led to biggest decrease in life expectancy since the World War II, and wiped out years of progress on mortality, according to a study published on Monday by the University of Oxford.
'If the epidemic is sharply contained in a month or two, we have a huge buying opportunity. 'If not, we are staring at a serious economic crisis, the contours of which we are totally unaware of,' warns Debashis Basu.
'India's sizeable foreign exchange reserves should serve as a buffer.'
The board has learnt from the harsh lessons of the 2021 edition when the tournament had to be suspended midway due to the raging pandemic and could only be completed in the UAE four months later.
The Manitoba Royal Canadian Mounted Police (RCMP) on Thursday said that the bodies of four people -- two adults, a teen and an infant -- were found on the Canadian side of the US-Canada border near Emerson.
'The concern that the bad bank may create a moral hazard for the system is extremely valid.'
'Investors need to diversify at least 30% to 50% of their liquid wealth across different markets, asset classes, and instruments across the world.' 'Do this with proper guidance and advice.' 'Global investing is complicated, but if done right, is extremely rewarding.'
Richie Berrington slammed a stroke-filled 70 while Josh Davey snapped four wickets as Scotland inched closer to the Super 12s with a comfortable 17-run win over Papua New Guinea in their Group B match of the ICC T20 World Cup in Al Amerat on Tuesday.
He said the SBI data showed that there is a rise in NPAs due to the coronavirus crisis but it is manageable as people have been cautious about increasing their liabilities especially in the retail, agriculture and MSME sectors.
'The top 11 billionaires in India added so much to their wealth during the pandemic that it would have sustained MNREGA for 10 years or the ministry of health for 10 years.'
The Sensex took less than two years to rally from the 10,000-mark it first hit in February 2006 to double that on that New Year's Eve.
Moody's has forecast that China would be the only G-20 country to post growth this year.
Only 75 aircraft were deployed to support the invasion, observes Group Captain Murli Menon (retd).
The uncertainty created by the jump in COVID-19 infections and localised lockdowns prompted RBI Governor Shaktikanta Das and other members of the rating setting panel MPC to unanimously vote for status quo in interest rates and an accommodative policy stance to support growth, as per minutes of the meeting released on Thursday. "The need of the hour is to effectively secure the economic recovery underway so that it becomes broad-based and durable," the Governor said during the three-day meeting of the Monetary Policy Committee (MPC) which ended on April 7. The renewed jump in COVID-19 infections in several parts of the country and the associated localised and regional lockdowns add uncertainty to the growth outlook, he observed, as per the minutes of the meeting released by the central bank.
Amidst the heightened social media campaign to induct K K Shailaja into the new cabinet, the Communist Party of India-Marxist on Wednesday said the dropping of the popular health minister was a 'political and organisational' decision of the party and there would not be any re-look into it.
It does feel like we are close to the end of the rupee's rally, says Jamal Mecklai.
Pompeo said that the United States was deeply saddened to learn about the passing of Mukherjee.
'Our competitiveness with China is very important.' 'If the exchange rate depreciates, it is good for us because it helps in our competitiveness.'
'We are going to have a recession this year, maybe next year too...'
Brinkmanship in the Taiwan Strait will not only be a recipe for disaster to both China and Taiwan, but also to international peace and stability, warns Rup Narayan Das.
The V-shaped rebound has been aided by a gush of liquidity flooding the global financial system, thanks to balance sheet expansion.
Sean Abbott alone will decide whether he wants to return to first class cricket at the Sydney Cricket Ground on Tuesday, two weeks after his short-pitched delivery felled Phillip Hughes at the same wicket, according to his state team.
Fitch Ratings has cut India's economic growth forecast to 8.7 per cent for the current fiscal but raised GDP growth projection for FY23 to 10 per cent, saying the second COVID-19 wave delayed rather than derail the economic recovery. In its APAC Sovereign Credit Overview, Fitch Ratings said India's 'BBB-/Negative' sovereign rating "balances a still-strong medium-term growth outlook and external resilience from solid foreign- reserve buffers, against high public debt, a weak financial sector and some lagging structural factors". The 'Negative' outlook, it said, reflects uncertainty over the debt trajectory following the sharp deterioration in India's public finances due to the pandemic shock.
In Q1, India's GDP shrank by a staggering 24 per cent year-on-year amid the imposition of one of the most stringent global nationwide lockdowns.
'The consolidation of the world's fifth-largest economy in the hands of 15-20 corporate giants is a once-in-generation event, which we are focusing on.'
Congress leader and ex-finance minister P Chidambaram on Tuesday said the Union Budget was the "most capitalist" with nothing for the poor and farmers while sops were being provided to big industrialists turning India into a very "unequal country". At a press conference after Union Finance Minister Nirmala Sitharaman unveiled a Rs 39.45 lakh crore Budget, he said because of the ruling party's "brute majority" the Lok Sabha pass the Budget but people will reject it. He claimed the Bharatiya Janata Party was going to elections, scheduled in five states, not with their performance or with the promises and assurances to the people, but solely "with the agenda of dividing the country and bringing Hindutva back to power".
Stating that an economic recession gripped global economy following the lockdowns due to COVID-19 pandemic, Fitch Ratings on Friday said the initial disruptions to regional manufacturing supply chains in China have now broadened to include local discretionary spending and exports.
Ahead of a meeting of oil producers' cartel OPEC, India on Tuesday said the current oil prices are "very challenging" and rates need to be a "little bit sober" lest they impact a consumption-led recovery of the global economy. Oil Minister Dharmendra Pradhan, who last week again urged OPEC to phase out its production cuts, said India is a price-sensitive market and it will buy oil wherever it gets competitive rates. The rebound in international oil prices from lows hit last month on the back of demand recovery has led to a spike in petrol and diesel retail prices in India.
'Aquaponics can effectively cushion the impact of a calamity like COVID.'
Moody's on Thursday raised India's GDP forecast for the calendar year 2020 upwards to -8.9 per cent contraction from -9.6 per cent contraction forecast earlier. Similarly, India's GDP forecast for the calendar year 2021 has been revised upwards to 8.6 per cent from 8.1 per cent projected earlier. The report released by Moody's Investors Service attributed the reason behind better growth to the falling of coronavirus cases in the country.
